Speaking at the Africa Blockchain Summit in Morocco’s capital of Rabat, the country’s central bank governor Abdellatif Jouahri said that Morocco will deploy Blockchain technology to enhance access to financial services, Morocco World News reported on Nov. 21. This fintech implementation will come as part of the country’s financial inclusion strategy and especially targets underserved citizens.
Jouahri further elaborated that the application of fintech, including blockchain technology, would help Morocco to achieve its goal to provide “all individuals and businesses fair access to formal financial products and services.
Last September, news broke that Morocco was going to build a 36-megawatt crypto mining farm in partnership with American Bitcoin mining company Soluna. The scheme, known as a power purchasing agreement, would enable the company to establish a foothold in the region with the possibility of expanding sales beyond the border in future years.